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Market Continues March Towards 5100

11.27 AEDT, Wednesday 20 February 2013

Market Continues March Towards 5100

By Niall King (Sales Trader, CMC Markets)

In early trade, the Australian Market has followed the overnight performance of its international peers by continuing an unrelenting march upwards towards the 5100 point mark. Toll holdings has been this mornings stand-out performer, up 5%, following a strong performance in the first half of the financial year with a profit increase of more than 20%.

The ABS quarterly Wage price index data due out at 11.30am is the next item of business. Further strength should be added to the Aussie dollar if the expected 0.8% increase is reached or breached.

Currency traders will be on high alert this evening with raft of economic data from Germany (manufacturing), France (inflation), UK (Minutes from the latest interest rate decision) and the US (Building permits, PPI and housing starts). Further positive figures from the German economy are likely to more than offset any weak inflation numbers from France and see a rise in the Euro.



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